Songwon Industrial Co. Ltd. announces the expansion of its antioxidants capacity from 55.000 tons to 70.000 tons. The expanded capacity will be on stream from August 2011. The expansion is the result of the consolidation of the Songnox® 1076 production into Songwon’s new fully backwardintegrated Maeam plant.
Jongho Park, Chairman and CEO of Songwon Industrial Co., Ltd. commented; “In 2006 we made a commitment to customers to drive reliability of supply and competitiveness through economies of scale and backward integration from a state of the art facility in Maeam, Korea. Maeam was from the outset dedicated to key antioxidants with critical intermediates fully integrated into the manufacturing process. In 2009 we took backward integration a step further by investing in an isobutylene plant based on proprietary technology. In order to enhance our competiveness and to consolidate our position as partner of choice for the polymer industry, we have now decided to integrate the production of Songnox® 1076 into Maeam. This will create the best possible manufacturing platform for this product in line with our strategy to maximize backward integration and economies of scale. We believe that Maeam is now the biggest plant in the world dedicated to key anitoxidants based on a fully integrated manufacturing process.”